Middletown, Ohio Property Taxes
The median property tax rate in Middletown, Ohio is 2.21%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Middletown, the typical annual property tax bill reaches $3,395, exceeding the national median of $2,690. Property taxes in Middletown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Middletown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Middletown or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Middletown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.21%
Estimate Property Tax Bill
$4,109
$3,813
Ownwell’s Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Middletown, Ohio
Property taxes in Middletown, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 2.21%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Middletown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45044 zip code has the highest median property tax rate of 2.96%, while the 45042 zip code has the lowest median tax rate of 2.21%. Understanding how these cities compare with Middletown provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middletown Tax Rate
2.21%
Average Montgomery County Tax Rate
2.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45042 | 1.62% | 1.97% | 2.21% | 2.21% | 2.23% |
| 45043 | 2.70% | 2.70% | 2.72% | 2.73% | 2.74% |
| 45044 | 2.96% | 2.96% | 2.96% | 2.96% | 2.96% |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Ohio
In Middletown, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Montgomery County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Middletown, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Middletown is $6,381 in zip code 45044, while the lowest is $336 in zip code 45043. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middletown Assessed Value
$185,940
Average Montgomery County Assessed Value
$98,910
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45042 | $94,823 | $128,840 | $194,950 | $251,320 | $274,513 |
| 45043 | $5,795 | $8,292 | $12,455 | $16,618 | $19,115 |
| 45044 | $215,230 | $215,230 | $215,230 | $215,230 | $215,230 |
Source: Ownwell
Property Tax Bills Across Middletown, Ohio
In Middletown, Montgomery County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Local tax authorities determine this assessed value and apply the local property tax rate to calculate the annual tax bill. Factors such as property size, location, and market conditions can influence the assessed value, impacting the final tax bill. For homeowners in Middletown, the median home price is $185,940. Property tax bills vary widely, with the 25th percentile tax bill at $2,715 and the 75th percentile reaching $4,881. At the 90th percentile, homeowners can expect to pay up to $5,851. The highest median tax bill in the area is $6,381 in zip code 45044, while the lowest is $336 in zip code 45043. These variations highlight the significant impact of property assessments and local tax rates on homeowners, affecting their annual financial obligations and overall cost of homeownership.
Average Middletown Tax Bill
$3,395
Average Montgomery County Tax Bill
$2,435
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45042 | $1,605 | $2,798 | $3,664 | $4,739 | $5,770 |
| 45043 | $158 | $225 | $336 | $448 | $515 |
| 45044 | $6,381 | $6,381 | $6,381 | $6,381 | $6,381 |
Source: Ownwell